China’s iron and metal trade must step up efforts on technological innovation and low-carbon growth to deal with challenges and understand high-quality development, based on trade specialists.
The remarks had been made at a web based discussion board on the event of China’s iron and metal trade on Saturday, which was held by a number of organizations together with the Chinese language Society for Metals and the China Metallurgical Business Planning and Analysis Institute.
“The iron and metal trade is at present going through new challenges and should depend on scientific and technological innovation to take an intensive development pathway that includes a rise in complete issue productiveness to comprehend high-quality growth,” mentioned Zhang Xiaogang, chairman of the CSM and former president of the Worldwide Group for Standardization.
He mentioned Chinese language steelmakers want to boost their operations and lift core competitiveness by means of strengthening price management, and benchmarking to faucet their potential and enhance efficiency with exact objectives.
Information from the Nationwide Bureau of Statistics confirmed the income of China’s ferrous steel smelting and rolling processing trade within the first 10 months was 7.3 trillion yuan ($1 trillion), down 9.7 p.c from a yr in the past, whereas the trade’s earnings plummeted 92.7 p.c year-on-year to 29.68 billion yuan in the course of the interval.
Specialists mentioned the plunge in earnings is principally attributable to the COVID-19 pandemic and the complexities of macroeconomic situations, resulting from which enterprises are confronted with sluggish demand, low product costs and high-level uncooked supplies prices.
In line with the China Iron and Metal Affiliation, key iron and metal enterprises’ buy prices of coking coal elevated greater than 50 p.c year-on-year in the course of the first three quarters, whereas the prices of injection coal elevated greater than 40 p.c on a yearly foundation.
Whereas the prices of importing iron ore within the first three quarters declined year-on-year, it was nonetheless greater in contrast with the prices in the identical interval in 2019 and 2020.
Amid mushy demand and high-level costs of uncooked supplies, crude metal output in the course of the first 10 months declined 2.2 p.c, the NBS statistics confirmed.
Diao Li, deputy head of the finance and belongings division of the CISA, mentioned costs of coal and coking coal had elevated by the top of November, resulting in extra price strain on iron and metal enterprises.
In line with Gan Yong, an academician on the Chinese language Academy of Engineering, to deal with the a number of challenges it faces, China’s iron and metal trade must give attention to the important thing hyperlinks of the economic chain to propel high-quality growth.
The trade must additional part out outdated capability, strengthen the development of good methods to make good use of digital transformation and promote short-process steelmaking applied sciences like electrical furnace steelmaking, Gan mentioned, who can also be honorary chairman of the CSM and former deputy head of the Chinese language Academy of Engineering.
He additionally mentioned the trade must advance power conservation, carbon emission discount and reform the technical innovation mechanism.
Fan Tiejun, president of the China Metallurgical Business Planning and Analysis Institute, mentioned safeguarding provides of sources and guaranteeing product high quality are the important thing to the wholesome growth of the trade.
The trade should adhere to a inexperienced, low-carbon and clever growth pathway whereas striving for higher-level growth comprehensively by means of technological innovation, mergers and acquisitions, sources and power recycling, and software of a typical certification system, based on him.
He suggested steelmakers to step up efforts to modify from blast furnaces to electrical furnaces for steelmaking, strengthen analysis on and software of carbon seize, utilization and storage applied sciences, and make extra breakthroughs in hydrogen metallurgy and different superior low-carbon metallurgy applied sciences, to speed up the decarbonization of the trade.
He additionally mentioned enterprises ought to make higher use of good manufacturing and administration applied sciences to cut back prices and enhance effectivity.
As enhancing power consumption effectivity stays a key activity for the iron and metal trade to comprehend high-quality growth, the CISA has formally kicked off a three-year marketing campaign in that regard.
He Wenbo, govt chairman of the affiliation, mentioned on the kickoff ceremony held on Friday in Zhanjiang, Guangdong province, that the affiliation goals to facilitate 80 million to 100 million metric tons of metal capability to achieve benchmark requirements on glorious power consumption effectivity efficiency inside 2023.
By 2024, metal capability with glorious power consumption effectivity is predicted to broaden to 150 million to 200 million tons. By 2025, the determine is predicted to be 200 million to 300 million tons, he mentioned.
Supply: China Each day